The Financial Express
Swasti Lankabangla Swasti Lankabangla

Japan's economy grows annualised 1.9pc in Q2

| Updated: September 01, 2018 13:36:42

Japan Q2 GDP expands annualised 1.9pc

Japan's economy expanded at an annualised rate of 1.9 per cent in the April-June quarter (Q2), government data showed Friday.

The preliminary data released by the Cabinet Office revealed that Japan's economy had recovered from a 0.9-per cent annualised contraction in the previous quarter and had dodged a slip into recession, owing to a pick-up in private consumption and capital expenditure.

The latest reading for Japan's second-quarter gross domestic product (GDP) data compared with a median estimate for a 1.4-per cent annualised increase among median economists' forecasts.

In terms of real gross domestic product, meaning the total value of goods and services produced in the country adjusted for inflation, economic growth equates to a 0.5 per cent expansion from the previous quarter, the Cabinet Office said.

This compares to median economists' estimates for a 0.3-per cent increase in the recording quarter, reports Xinhua.

Private consumption, the Cabinet Office said, which accounts for more than half of Japan's GDP, was up 0.7 per cent on quarter.

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